LBO France promotes two ahead of fund close

Louis-Roch Burgard and Sophie Chateau have been made partners as the French firm continues to raise €1bn for its ninth White Knight fund.

Paris-based LBO France has promoted two managing directors to partner, according to a statement from the firm.

Through the promotions Louis-Roch Burgard and Sophie Chateau will become members of the firm’s executive committee. Burgard also becomes a member of the executive board, while Chateau takes on the title of head of investor relations.

Burgard joined the firm in September 2015 as a managing director in its mid-cap White Knight team.

The executive board is now made up of six members: Burgard, CEO Robert Daussun, Marie-Astrid Auriol, Stéphanie Casciola, Jacques Franchi, and Gilles Taldu.

Chateau joined as a managing director within the firm’s investor relations team in May 2015. Previously she served as an associate director at Weinberg Capital Partners, with responsibility for investor relations across all activities. She also oversaw the fundraising process for both private equity and real estate. As head of investor relations at LBO France, Chateau now manages a six-member team.

“Louis-Roch Burgard, who has a recognised financial and operating experience in general management positions, will be a key asset for both our investment teams and the executive board,” Daussun said in a statement. 

Burgard's appointment to the executive board is in line with moves to reinforce the board that included appointing chief investment officer Franchi and head of real estate Casciola to board positions in July 2015, Daussun said.

The promotions come as LBO France continues to seek €1 billion for its ninth White Knight vehicle. White Knight IX came to market in 2013 and has held a first close on an undisclosed amount.

The vehicle has already made several investments. In July the firm acquired IKKS, a French ready-to-wear brand, from Roger Zannier, which retained around 30 percent of the company’s capital. Silverfern Group also joined the capital structure as a minority shareholder.

In October 2014 White Knight IX acquired CHRYSO, a cement business division of Materis, a French specialty chemicals business, in a deal valuing the company at €285 million. LBO France previously held an 84 percent stake in parent company Materis between November 2003 and May 2006, which it sold to Wendel for a gross multiple of 2.9x.